Am I crazy for thinking about buying an Apartment in a buildings I'm afraid to walk by? Recently there has been a Bank owned REO property for sale in my neighborhood. There is nothing special about the apartment other than the price. From the outside the building seems loud, its near an above ground subway and major street. Plus there are always intimidating looking men standing outside the... [more]
Am I crazy for thinking about buying an Apartment in a buildings I'm afraid to walk by?
Recently there has been a Bank owned REO property for sale in my neighborhood. There is nothing special about the apartment other than the price.
From the outside the building seems loud, its near an above ground subway and major street. Plus there are always intimidating looking men standing outside the entrance.
I don't scare easily. I'm native to NYC, and can hold my own. There is just something about this building that gives me the willies. The buildings is located on a commercial strip right next to a liquor store. The guys that stand out side are usually drunk maybe high. They are very creepy, the kind that undress you w your eyes, that kind of creepy guy.
I don't even know if these guys live in the building or if they just hang around the liquor store. The building has a courtyard, and decorative brick around the outside. Its not special just red brick. It seems almost impossible to find a seat, but somehow they do it.
Normally I would never even think about this place, but the price is so low we might actually be able to buy.. in Manhattan. Its unbelievable! Am I being close minded or blind? Whats your opinion?
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Response by pier45
about 11 years ago
Posts: 379
Member since: May 2009
I wouldn't want to live somewhere that I don't feel comfortable. I used to live in a building in the village where a lot of bums would stand in the doorway and it was annoying to have to ask them to get by. None of them ever gave me trouble.
I would be on high alert for the reason why on any Manhattan REO.
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Response by uptown_joe
about 11 years ago
Posts: 293
Member since: Dec 2011
Above ground subway and major street in Manhattan - so that's the northern part of Inwood on Broadway or Dyckman? (Or maybe 125th where the 1 train crosses?)
If on 125th, go for it, the neighborhood is only getting better with Columbia's construction project. Inwood on the main thoroughfares is less certain in terms of future improvements, although possible. Re the liquor store phenomemon, that isn't going to go away absent significant gentrification because retail spaces tend to have longer leases and only some streets are zoned for it, so there's more friction working against quick change in those sorts of things.
Balance the joys of homeownership vs what you can get out of a similarly-priced rent-stabilized lease in a better- situated building.
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Response by jms8
about 11 years ago
Posts: 110
Member since: Apr 2011
location, location, location! yes this is nuts
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Response by fieldschester
about 11 years ago
Posts: 3525
Member since: Jul 2013
cc2015, what does cc stand for? Also, what neighborhood is this in?
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Response by alanhart
about 11 years ago
Posts: 12397
Member since: Feb 2007
Troll, cc stands for "cubic centimeter". Why do you ask?
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Response by fieldschester
about 11 years ago
Posts: 3525
Member since: Jul 2013
>cc stands for "cubic centimeter".
Well, that's not what I expected. Learn something every day.
I wouldn't want to live somewhere that I don't feel comfortable. I used to live in a building in the village where a lot of bums would stand in the doorway and it was annoying to have to ask them to get by. None of them ever gave me trouble.
I would be on high alert for the reason why on any Manhattan REO.
Above ground subway and major street in Manhattan - so that's the northern part of Inwood on Broadway or Dyckman? (Or maybe 125th where the 1 train crosses?)
If on 125th, go for it, the neighborhood is only getting better with Columbia's construction project. Inwood on the main thoroughfares is less certain in terms of future improvements, although possible. Re the liquor store phenomemon, that isn't going to go away absent significant gentrification because retail spaces tend to have longer leases and only some streets are zoned for it, so there's more friction working against quick change in those sorts of things.
Balance the joys of homeownership vs what you can get out of a similarly-priced rent-stabilized lease in a better- situated building.
location, location, location! yes this is nuts
cc2015, what does cc stand for? Also, what neighborhood is this in?
Troll, cc stands for "cubic centimeter". Why do you ask?
>cc stands for "cubic centimeter".
Well, that's not what I expected. Learn something every day.